Crypto's Political Machine  $263 Million to Rival Big Oil - video Dailymotion

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00:00Bill, the 2024 presidential election, known as a crypto election, the industry clearly played a

00:05very pivotal role in Donald Trump's victory. What does the industry's role in politics look like

00:10now? It is they are loaded for bear for the midterm elections. They are there's about 263

00:17million dollars, we think, floating around in crypto focus super PACs. There's growing numbers

00:23of them in the in the 2024 election. There was really just one called Fair Shake. Now there's

00:28like three or four that are starting with different industry figures who are putting

00:32in, you know, up to 100 million dollars into some of these. And so they're going to have a ton of

00:37money to spend. And, you know, they're going to be focused on, you know, what's best for our industry.

00:43OK, there's a lot more money to spend. Are these groups working in concert with one another? Are

00:48they working? I wouldn't say in opposition, but are they pursuing different priorities?

00:53I think there's a little bit of a different strategy with some of the new groups. We really

00:57won't know until they start spending money. One of the things about the crypto industry

01:03and the approach that they took, they tried it out first in 2022 and they came back with

01:08a new super PAC in 2024. They've tried to be very nonpartisan or bipartisan. They look forward

01:16to support both Republicans and Democrats who back their issues. They went heavily after a couple

01:23of Democrats, Katie Porter in the primary for the California Senate race in 2024. They went after

01:28Sherrod Brown, who is another big critic of the crypto industry, who the senator from Ohio. They

01:34were successful in both, you know, going after both of those politicians, which I think really sent a

01:40message to politicians around the country that this is something to be taken seriously. But the new

01:45groups seem to be leaning a little bit more Republican. And that could be because Republicans have,

01:51you know, basically both houses of Congress and the presidency. Um, but it's also that some

01:56of these folks are like, you know, for example, the Winklevoss twins who are very, uh, Republican

02:00oriented, uh, started one of the groups and it looks like they may be lining up more behind

02:05Republicans rather than, uh, splitting their money between Republicans and Democrats the way

02:10that Fairshake did.